Delhivery raises $125m from Lee Fixel’s firm Addition

BENGALURU: Delhivery has raised $125 million from Lee Fixel’s venture capital firm, Addition. Addition is the latest global fund to invest in the company, following earlier rounds from other marquee investors. Lee remains a long-term backer of Delhivery and has been an investor in the company since 2015.
Fixel is the founder of Addition, an investment firm focused on early and growth-stage companies. He was previously the partner at Tiger Global Management where he backed firms including Flipkart, Stripe, Freshworks, Warby Parker, Peloton among others.
Sahil Barua, CEO of Delhivery, said, “We have a long-standing relationship with Lee and are delighted to welcome him to our cap table again. This investment reinforces the trust that institutional investors have placed in Delhivery and is a validation of the strength of our business.”
Lee Fixel, the founder of Addition, said, “Delhivery has established a market-leading position by innovating across the logistics space and has attracted several marquee investors. We are pleased to continue to support Delhivery and its new logistics SaaS, which is well-positioned to transform the global supply chain and logistics markets”.
Fixel’s funding in Delhivery comes at a time when it is looking to raise around $1 billion through the IPO.
Delhivery is an end-to-end logistics and supply chain services company in India. It has fulfilled over 1 billion shipments with over 17,000 customers, including large and small e-commerce participants, SMEs, and other enterprises.

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